Subash Projects and Marketing Limited to develop port at Pondicherry
New Delhi-based Subash Projects and Marketing Ltd has been awarded a 30-year lease of the Pondicherry port under the BOT scheme (build, operate and transfer). The investment required for port development will be borne entirely by the company. An annual payment of 2.6% of the revenue earned will be made to the govt. This is expected to grow from a minimum of Rs.4 crores to Rs. 56 crores in due time. However, expansion and development work will be taken up only after the verdict on a writ petition concerning expansion of the port is given by the Madras High Court.
By INRnews Correspondent
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